$Sandisk(SNDK.US) I haven't really participated in trading this stock, but I've been watching it. I found that most people got in around 1000, made some money, got hooked, and then went all in with heavy positions around 1500, using margin and heavy leverage. A large portion of these traders were using unrealized gains to add to their positions. Very few, almost none, actually held from the bottom and cashed out at over 2000.

Since entering July, the Korean memory sector showed signs of weakness first. Then Meta announced it would rent out idle computing power. Combined with institutions and leveraged positions taking profits, a large-scale decline occurred. In the past two days, many friends have seen their profits massively evaporate and their principal cut in half.

Finally, a bit of insight: Sometimes the rise and fall of a stock has nothing to do with the company or its products. It's about sector rotation. Where the money flows, that's where the rise happens.